Edgar Lomax Co. VA Buys 5,210 Shares of Citigroup Inc. $C

Key Points

• Edgar Lomax Co. VA increased its stake in Citigroup by 0.8%, owning a total of 652,600 shares, worth approximately $46.3 million, making Citigroup its 12th largest position.
• Citigroup reported a quarterly earnings of $1.96 EPS, beating estimates by $0.35, with a revenue of $21.67 billion, up 8.2% year-over-year.
• The company announced a dividend increase to $0.60 per share, reflecting a 2.6% yield and a payout ratio of 35.45%.

Edgar Lomax Co. VA boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 652,600 shares of the company's stock after buying an additional 5,210 shares during the period. Citigroup makes up about 2.9% of Edgar Lomax Co. VA's investment portfolio, making the stock its 12th biggest position. Edgar Lomax Co. VA's holdings in Citigroup were worth $46,328,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of C. Goldman Sachs Group Inc. lifted its holdings in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after buying an additional 9,334,038 shares during the period. Nuveen LLC acquired a new position in Citigroup in the first quarter valued at approximately $578,100,000. Northern Trust Corp lifted its holdings in Citigroup by 13.9% in the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after buying an additional 2,467,958 shares during the period. GAMMA Investing LLC lifted its holdings in Citigroup by 7,899.8% in the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after buying an additional 2,400,033 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Citigroup by 16.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,497,812 shares of the company's stock valued at $879,721,000 after purchasing an additional 1,794,597 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on C. Barclays upped their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Oppenheimer upped their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company upped their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Down 0.7%

Citigroup stock traded down $0.6350 during mid-day trading on Thursday, reaching $92.5350. The company's stock had a trading volume of 17,633,063 shares, compared to its average volume of 15,728,550. The company has a market capitalization of $170.35 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The business's 50 day simple moving average is $88.75 and its 200 day simple moving average is $78.11. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.